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TREMONT ANNOUNCES THIRD QUARTER 1993 RESULTS

 DENVER, Oct. 27 /PRNewswire/ -- Tremont Corp. (NYSE: TRE) reported a loss from continuing operations for the third quarter of 1993 of $12.3 million, or $1.68 per share, on sales of $34.1 million, compared to a loss from continuing operations of $7.0 million, or 96 cents per share, on sales of $39.1 million in the third quarter of 1992. The company's loss from continuing operations in the first nine months of 1993 was $48.5 million, or $6.60 per share, on sales of $113.4 million, compared to a loss of $21.2 million, or $2.88 per share, on sales of $109.2 million in the first nine months of 1992.
 The results of the company's titanium metals subsidiary ("TIMET") for the third quarter of 1993 were adversely affected by, among other things, several significant customer order delays and cancellations and continuing weak demand within the military and commercial aerospace markets. TIMET's sales revenue decreased 13 percent in the third quarter of 1993 due principally to a 13 percent decline in sales volume relative to pounds shipped in the corresponding 1992 period. Production variances also negatively impacted third quarter operations. TIMET reported an operating loss of $5.8 million in the third quarter and $7.1 million for the first nine months of 1993, before restructuring charges. Although TIMET is not currently in compliance with an earnings covenant under its bank credit agreement, TIMET believes it is close to reaching an agreement with its banks to resolve this matter. TIMET also recorded a $4.7 million pre-tax restructuring charge in the third quarter of 1993 related to planned cost reduction measures.
 The titanium metals business continues to be adversely affected by, among other things, recessionary economic conditions, excess world capacity, adverse selling price pressures, reductions in both military aircraft and commercial airline industry spending, and the availability of relatively inexpensive titanium scrap, sponge and mill products from the Commonwealth of Independent States.
 The company's 1993 results include a loss attributable to its 18 percent equity interest in NL Industries Inc. of $4.0 million in the third quarter and $42.1 million in the first nine months of 1993. The 1993 year to date loss includes a previously-reported $29 million charge to earnings in the first quarter for an other than temporary impairment in the market value of NL Industries.
 As previously reported, the company sold its interest in a gold exploration venture during the second quarter of 1993 for $5.5 million. The company completed the sale of its bentonite mining business in the third quarter of 1993 and recorded a gain of approximately $7.2 million, net of tax. The company's bentonite mining results are reflected as discontinued operations.
 The company's income tax benefit varies from the U.S. statutory rate due principally to losses for which no benefit is currently available.
 Tremont, headquartered in Denver, is a leading integrated producer of titanium metal products. Tremont's common stock is traded on the New York and Pacific Stock Exchanges under the symbol "TRE."
 TREMONT CORP.
 SUMMARY OF CONSOLIDATED OPERATIONS
 (In millions, except per share data)
 (Unaudited)
 Quarter Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Net sales $34.1 $39.1 $113.4 $109.2
 Operating loss:
 Before restructuring charge $(5.8) $(2.5) $(7.1) $(9.5)
 Restructuring charge (4.7) --- (4.7) ---
 (10.5) (2.5) (11.8) (9.5)
 General corporate items:
 Sale of gold exploration venture --- --- 5.5 ---
 Other, net (1.1) (1.3) (1.8) (3.7)
 Interest expense (1.2) (.9) (3.2) (2.8)
 Loss before equity in NL (12.8) (4.7) (11.3) (16.0)
 Equity in loss of NL, including
 provision for market value
 impairment in 1993 (4.0) (3.0) (42.1) (7.5)
 Loss before income taxes (16.8) (7.7) (53.4) (23.5)
 Income tax benefit 4.5 .7 4.9 2.3
 Loss from continuing operations (12.3) (7.0) (48.5) (21.2)
 Discontinued operations 7.2 .6 7.5 1.2
 Cumulative effect of changes
 in accounting principles --- --- --- (31.9)
 Net loss $(5.1) $(6.4) $(41.0) $(51.9)
 Income (loss) per common share:
 Continuing operations $(1.68) $(.96) $(6.60) $(2.88)
 Discontinued operations .99 .09 1.02 .17
 Cumulative effect of changes
 in accounting principles --- --- --- (4.34)
 Net loss $(.69) $(.87) $(5.58) $(7.05)
 Weighted average common shares 7.4 7.4 7.4 7.4
 -0- 10/27/93
 /CONTACT: Mark A. Wallace of Tremont, 303-296-5651/
 (TRE)


CO: Tremont Corp. ST: Colorado IN: MNG SU: ERN

BB -- DV006 -- 7533 10/27/93 17:02 EDT
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Date:Oct 27, 1993
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